Middleby Net Worth is$951 M Sales
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Middleby (Nasdaq: MIDD) sells ovens and other food preparation and packaging equipment. It was founded in 1888 under the Middleby Marshall Oven Company name and changed its name to The Middleby Corporation in 1985. It is headquartered in Elgin, Ill.

This small-cap company sells ovens and cookers of all types. Conveyor belt ovens, convection ovens, fryers, baking ovens, broilers, and steam cooking equipment. It also offers food preparation equipment, such as breaders, batterers, and mixers, along with packaging and food safety equipment. It sells these to restaurants of all sizes, hotels, and convenience stores.

It had been selling other items such as freezers and deli cases, but a new management team narrowed the company's focus beginning about 2000. By giving up a lot of revenue, many investors fled, but the turnaround has helped the company perform well in recent years. The higher margin ovens let the company focus on one major line, selling to such names as McDonald's, Wendy's, Subway, Papa John's and Domino's. The strategy worked, as net margin improved from low single digits in the late 1990s to about 10% today.

The company acquired its century-old primary competitor, The Blodgett Oven Company, in 2001 as part of this refocusing and then went on an intense campaign to raise sales and reduce debt. It has since acquired other competitors, both to reduce competition and to expand its own product line in its area, recently acquiring TurboChef.

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Middleby Latest News

Middleby Corp (MIDD) Reports Acquisition of Scanico A/S

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here. The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Scanico A/S, a leading manufacturer of industrial cooling and freezing equipment for the food ...
Posted: December 8, 2017, 2:58 am

Middleby Struggles With Falling Earnings

Economic conditions have been a mixed bag for kitchen equipment provider Middleby (NASDAQ: MIDD) lately. On one hand, consumers have been economically strong, and the housing market has rebounded sharply from the financial crisis nearly a decade ago.
Posted: November 9, 2017, 12:18 am

Middleby Corporation acquires Scanico to expand in processing

The Middleby Corporation has announced the acquisition of cooling and freezing equipment manufacturer Scanico. Denmark-based Scanico has approximately $30 million in annual revenues. It is a leader in cooling and freezing technologies directed to many ...
Posted: December 8, 2017, 3:48 am
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